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Enforcement Priorities Cryptoassets

BakerHostetler

The SEC Speaks - Key Enforcement Priorities for 2024

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On April 2 and 3, the U.S. Securities and Exchange Commission (SEC or Commission) presented its annual SEC Speaks program in conjunction with PLI, where senior members of the Commission provided updates on the current...more

Dorsey & Whitney LLP

2024 SEC Examination Priorities for Investment Advisers

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The SEC’s Division of Examinations (the “Division”) announced its examination priorities for fiscal year 2024. This eUpdate includes observations on the examination priorities and a list of examination priorities that impact...more

BakerHostetler

New Crypto Payment and Web3 Products Launch; UK Seeks Input on DeFi Taxation; OFAC Fines Crypto Exchange; SEC, DOJ, CFTC Continue...

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Multiple Financial Services Firms Announce New Crypto Products - A major U.S. financial services firm recently launched its Crypto Credential product, “a set of common standards and infrastructure that will help verify...more

BCLP

A Time of Transition for the CFTC

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Over the past year, the Commodity Futures Trading Commission continued moving its focus away from practices like spoofing, instead bringing high-profile actions in the crypto space and reaching significant settlements with...more

Goodwin

SEC and FINRA to Securities Influencers: Disclose the Truth of Your Compensation, or Else!

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The SEC has settled several cases of improper celebrity crypto endorsements over the past several years. The most recent example involved NBA hall of famer Paul Pierce, also known as the “Truth.” The crux of the SEC’s...more

Latham & Watkins LLP

Regulators Are Setting Sights on Crypto Market Manipulation

Latham & Watkins LLP on

Multiple U.S. government agencies have pursued a stream of enforcement actions in the digital asset industry in recent years. In fiscal year 2022, 20% percent of the enforcement actions brought by the Commodity Futures...more

WilmerHale

Criminal Vs. Civil Liability Amid Growing Crypto Enforcement

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The emergence of digital assets has brought new risks and challenges, including the potential exploitation of the technology to facilitate financial crime. The U.S. Department of Justice has committed to work with its law...more

Brownstein Hyatt Farber Schreck

SEC Director’s Congressional Testimony Provides Further Insight into Enforcement Priorities

Recently, Gurbir Grewal, the U.S. Securities and Exchange Commission’s director of the Division of Enforcement, testified before the U.S. House of Representatives’ Subcommittee on Investor Protection, Entrepreneurship, and...more

Dechert LLP

SEC Reported to Add Another Dimension to its Cryptocurrency Enforcement Push: Insider Trading

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Key Takeaways - According to sources with firsthand knowledge, the SEC is conducting an industry-wide inquiry into alleged insider trading activities of cryptocurrency exchanges. Insider trading occurs when a corporate...more

Goodwin

Agencies Issue Joint Proposal to Strengthen and Modernize CRA Regulations

Goodwin on

Regulatory Developments - Agencies Issue Joint Proposal to Strengthen and Modernize CRA Regs - On May 5, the FDIC, the FRB and the OCC issued a joint Notice of Proposed Rulemaking (NPR) to “strengthen and modernize” the...more

Nelson Mullins Riley & Scarborough LLP

SEC’s Crypto Assets and Cyber Unit Expands Its Reach to Cryptomining

As recently discussed in FinTech Nostradamus, the SEC recently doubled the size of its Crypto Assets and Cyber Unit. Since its inception in 2017, the SEC’s Crypto Assets and Cyber Unit has launched more than 80 investigations...more

Eversheds Sutherland (US) LLP

Expansion of SEC’s Crypto Assets and Cyber Unit portends more active enforcement

On May 3, 2022, the US Securities and Exchange Commission (SEC) announced the expansion of its newly styled Crypto Assets and Cyber Unit (Unit) (formerly known as the Cyber Unit), housed within its Division of...more

Latham & Watkins LLP

Analysis: SEC’s Proposed Cyber Rules for RIAs, RICs, and BDCs

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In another move related to strengthening its cybersecurity enforcement efforts, the SEC announced that it will nearly double the size of its cyber enforcement unit. On May 3, 2022, the SEC announced that it will allocate...more

Proskauer - Blockchain and the Law

SEC to Hire More Staff in Crypto Assets and Cyber Unit and Ratchet Up Scrutiny of Industry

The Securities and Exchange Commission (SEC) announced yesterday that it would hire 20 additional positions to the Crypto Assets and Cyber Unit (formerly known as the Cyber Unit) within the Division of Enforcement, increasing...more

Holland & Knight LLP

SEC Relaunches and Adds Resources to Division of Enforcement's Crypto Assets and Cyber Unit

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Continuing its focus on crypto enforcement, the SEC on May 3, 2022, announced the addition of 20 positions to its relaunched Crypto Assets and Cyber Unit – formerly the Cyber Unit. The additions nearly double the size of the...more

Foodman CPAs & Advisors

How the IRS Uses Social Media to Find Crypto Tax Cheats

Does your Twitter, Reddit, Facebook, Instagram or other social media feed feature photos of your new sports car, boat, fabulous vacation or the beach house that you bought with your crypto gains? Do you also report a low...more

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